Hire Purchase Loan

Hire purchase are types of finance used by businesses to obtain a wide range of assets – everything from office equipment to vehicles.

Hire purchase could be the perfect solution if you need new equipment which would otherwise be unaffordable because of cash-flow constraints.

Because hire-purchase agreements are secured wholly or largely on the asset being financed, the need for additional collateral is much reduced. There is more security for the user because the finance cannot be recalled during the life of the agreement, provided the business keeps up with payments.

CALL US NOW

If a business wants to own the equipment at the end of the agreement, but avoid the cash flow impact of buying outright, then hire purchase is an option.

A finance company buys the equipment and the business repays the cash price plus interest through regular repayments. These agreements are also normally at fixed interest rates. At the end of the agreement, there is usually a nominal fee to acquire title to the equipment.

With Bankgoodrates, we can ensure you that your company is able to get a very competitive financing rates of your Hire Purchase Loans from our panel of 17 banks and financier institions.

CALL US NOW